Global Construction Machinery Market 2019-2023 | Growing Trend of Skyscrapers to Boost Growth | Technavio

Technavio has announced its latest market research report titled global construction machinery market 2019-2023. (Graphic: Business Wire)

LONDON--()--The global construction machinery market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.

A key factor driving the growth of the market is the increased investment in infrastructure. The demand for construction machinery is growing due to the increasing investment in infrastructure projects across the world. For instance, China invested around USD 13.1 billion in the development and construction of the Beijing International Airport, which is designed to handle about 46 million people annually by 2019 and 72 million passengers by 2026. Governments across the world are investing significantly in the development of sports infrastructure and facilities. Thus, the spending on capital-intensive projects and infrastructure development is expected to grow significantly in the next decade, which will augment the growth of the global construction machinery market during the forecast period.

As per Technavio, the growing trend of skyscrapers and mixed-use developments will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global construction machinery market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global construction machinery market: Growing trend of skyscrapers and mixed-use developments

The growing need for infrastructure such as multi-family homes, condominiums, hospitals, hotels, and offices, is leading to an increasing trend of maximizing the available land which is giving rise to skyscrapers. Skyscrapers are very convenient as they accommodate plenty of floor space in a relatively small amount of ground surface, owing to their significant heights. Following the completion of Burj Khalifa, currently the tallest structure in the world, with a height of 829.8 meters, countries across the world are in a race to build the tallest skyscraper. Several high-rise projects are under construction worldwide, which are expected to be completed during the forecast period. Many of these skyscraper projects are mixed-use developments. This trend is expected to have a significant impact on the global construction machinery market in the future.

“Apart from the growing trend of skyscrapers and mixed-use developments, the expansion of manufacturing facilities, new product launches, and growing trend of construction equipment rentals are some other factors that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.

Global construction machinery market: Segmentation analysis

This market research report segments the global construction machinery market by product (earth-moving machinery, material handling machinery, concrete and road construction machinery, and other machinery) and geographical regions (APAC, North America, Europe, South America, and MEA).

The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the rising number of projects in the region.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The global construction machinery market is expected to post a CAGR of over 6% during the period 2019-2023, according to Technavio.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200